Tesla (TSLA.O), opens new tab CEO Elon Musk on Wednesday became the first person ever to achieve a net worth of nearly $500 billion, propelled by a rebound in the EV company's shares and surging valuations of the tech entrepreneur's other startups this year.

After a turbulent start to the year, Tesla shares have trended higher as investor sentiment improved on Musk bringing his focus back to his companies. Tesla board chair Robyn Denholm said last month Musk was back "front and center" at the company after several months at the White House.

Just days later, Musk disclosed his purchase of about $1 billion worth of the shares in a huge vote of confidence for the future of Tesla as it races to transition from an automaker to an AI and robotics powerhouse.

Still, sagging car sales and persi

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